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Property profile & analytics
OFF-MARKET
Estimated value
$4,600,000
Garden apartment buildings
1502 47th Ave 1608 Portland, OR 97213-2134
Entity Owned
Absentee Owner
Free & Clear
Property ID
US71-0571877
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1962
Total area
11,648 SF
Lot
0.97 ac (42,345 SF)
Zoning code
R1
APN
1N2E30CD 22500
UPID
US71-0571877
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.60M
Blend (final)
Blend
$4.60M
Owner & transaction history
NORM STOLL ENTERPRISES
NORM STOLL ENTERPRISES
Zoning & alternative use
R1 · Portland, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.0M
+28.8%
Auto repair, garage
$3.6M
+14.8%
Medical building
$3.5M
+13.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Portland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,095,000
Current use
RESTAURANT
$3,990,000
Change: +29% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,555,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$3,520,000
Change: +14% · Conversion: Moderate
OFFICE BUILDING
$3,365,000
Change: +9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,935,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$4.60M
Range $4.14M – $5.06M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$395 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$61,229
Tax year 2023
Assessed value
$2,310,640
Assessed 2023
Previous assessed
$2,243,340
+3.0% YoY
Effective rate
2.65%
On assessed value
Land market value
$2,117,250
Improvement market value
$4,654,290
Total market value
$6,771,540
Applied tax rate
201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1962
Heating
NONE
Buildings
3
Stories
2
Total area
11,648 SF
Lot
0.97 ac (42,345 SF)
Zoning code
R1
APN
1N2E30CD 22500
UPID
US71-0571877
Jurisdiction
MULTNOMAH
Zoning & alternative use
R1 · Portland, OR
Zoning R1 · permitted uses
R1 · Portland, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.1M
RESTAURANT
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.4M
COMMERCIAL (GENERAL)
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Heating
NONE
Stories
2
Buildings
3
Lot
0.97 ac
Current owner
From public records · entity-resolved
NORM STOLL ENTERPRISES
Individual
Free & Clear · 0 yrs held
Mailing address
3830 NE HANCOCK ST, PORTLAND, OR 97212-5317
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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